GDP deflator calculator
The GDP deflator measures how much prices of everything an economy produces have changed since a base year. Enter any two of nominal GDP, real GDP and the deflator to get the third, plus the price change since the base year and the gap between nominal and real GDP. Use the official figures you have; the calculator does not look up statistics.
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How to use it
- Choose what to find: the deflator, real GDP or nominal GDP.
- Enter the two other values in the same currency and units (billions, for example).
- Read the result, the price change since the base year and the gap between nominal and real GDP.
- GDP deflator = nominal GDP ÷ real GDP × 100
- Real GDP = nominal GDP ÷ deflator × 100
- Nominal GDP = real GDP × deflator ÷ 100
- Price change since the base year = deflator − 100 (%)
Nominal GDP is valued at the year’s own prices, real GDP at base-year prices. In the base year both are equal and the deflator is 100.
Worked example
Nominal GDP is 22,000 and real GDP is 20,000 (billions):
- Deflator = 22,000 ÷ 20,000 × 100 = 110.
- Prices are 10 % above the base year.
- Nominal minus real GDP = 2,000: that part of the growth since the base year is price, not volume.
With real GDP 20,000 and a deflator of 125, nominal GDP is 20,000 × 125 ÷ 100 = 25,000.
Tips
- Real GDP growth is what matters for output: compare real GDP across years, not nominal.
- A deflator below 100 means prices are lower than in the base year.
- Statistical offices rebase their series from time to time; use a deflator and real GDP with the same base year.
Frequently asked questions
What is the GDP deflator formula?
GDP deflator = nominal GDP ÷ real GDP × 100. If nominal GDP is 22,000 and real GDP at base-year prices is 20,000, the deflator is 110: prices are 10% higher than in the base year.
How do I get real GDP from nominal GDP?
Real GDP = nominal GDP ÷ deflator × 100. Nominal GDP of 22,000 with a deflator of 110 is a real GDP of 20,000 in base-year prices.
How is the deflator different from the CPI?
The CPI follows a fixed basket of goods households buy, including imports. The GDP deflator covers everything produced in the country, including investment goods and government services, and its weights change with what is produced.
How do I get inflation from two deflators?
Inflation between two years = (later deflator ÷ earlier deflator − 1) × 100. From 110 to 115.5 is (115.5 ÷ 110 − 1) × 100 = 5%.